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Trusts-Interest Required To Support Suit For Protection Of Res
Trusts-Interest Required To Support Suit For Protection Of Res
Michigan Law Review
The deceased had established a trust making the trust company and one Percy S. Peck co-trustees, and Peck was also made one of several beneficiaries. The will provided that Peck should have a general power of appointment by will over the corpus of the estate, and that in default of the exercise of such power, it should go to his issue if living. The plaintiffs are the issue of Peck, who is still alive. The trustees made certain investments which the plaintiffs claim injure the corpus of the trust, for which they ask that the transactions be declared illegal and …
Trusts-Process By Which Creditor May Reach Cestui's Interest In Spendthrift Trust
Trusts-Process By Which Creditor May Reach Cestui's Interest In Spendthrift Trust
Michigan Law Review
The former husband of the principal defendant created a trust for her benefit with a clause restraining alienation and barring attachment by creditors. Plaintiff, holding a judgment against the cestui que trust, brought a creditor's bill in equity against the trustee and cestui. Held, creditor's bill dismissed, but the exemption of cestui's interest from the claims of creditors was invalid, and plaintiff might recover by amending and bringing an action at law with trustee process. Brahmey v. Rollins, (N. H. 1935) 179 A. 186.